I second Prascad's advice that it is up to the engineer to decide which approach most closely represents reality.
Although Etabs does allow you to assign pier or spandrel labels to line/frame elements, I find using area/shell elements is usually more convenient for shear walls. In order to mix walls modeled with line/frame elements with walls modeled with shell/area elements, you would need to spend time using rigid links to transfer forces/moments between element types.
When assigning a common Pier label to multiple shell elements for design, ETABS integrates the stresses across all Pier elements with same label to provide top and bottom forces/moments as well as top & bottom steel requirements as if all the pier shell elements with same label were 1 column. Same concept with Spandrel label, but steel is designed for left and right stations.